Securities Law & Instruments


Legislative Reviews


Under the Securities Act and Commodity Futures Act, the Ontario government is required to appoint advisory committees to review securities or commodity futures legislation, regulations and rules relating to matters dealt with by the Ontario Securities Commission, generally every four years after the appointment of the previous advisory committee.

Appointments under the Securities Act:

The Minister of Finance appointed an independent committee (the Five Year Review Committee) in March 2000 to review securities legislation, regulations and rules and the legislative needs of the Commission. The Five Year Review Committee issued its draft report on May 29, 2002 and subsequently released its final report for submission to the Minister of Finance on May 29, 2003.

Appointments under the Commodity Futures Act:

The Minister responsible for securities legislation appointed the first advisory committee (the CFA Advisory Committee) in May 2005 to review commodity futures legislation, regulations and rules. The CFA Advisory Committee issued its interim report on May 26, 2006 and final report in January 2007.


Securities Review Advisory Committee

August 18, 2004 News Release: OSC Chair Supports Priority Recommendations at Standing Committee of the Legislature
August 18, 2004 Statement by David Brown to the Standing Committee on Finance and Economic Affairs
August 18, 2004 Executive Summary by the Ontario Securities Commission elaborating on priorities identified in Statement
August 18, 2004 Status Report of Ontario Securities Commission on Recommendations of the Five Year Review Committee
August 18, 2004 Report by the Committee Chaired by Coulter Osborne
August 18, 2004 Legal Opinion of Torys LLP
August 18, 2004 Legal Opinion of McCarthy Tétrault
May 29, 2002 News Release: Ernie Eves Government Releases Final Report on Securities Law Review
May 29, 2002 Backgrounder: Eves Government is Enhancing Investor Confidence in Fair and Efficient Financial Markets
May 29, 2002 Five Year Review Committee Final Report
May 29, 2002 Media Release: Minister's Five Year Review Committee Releases Draft Report on Securities Laws in Ontario
May 29, 2002 Five Year Review Committee Draft Report
Comments Received on Draft Report
April 28, 2000 Five Year Review Committee Request for Comments
Comments Received on Issues List


CFA Advisory Committee

January 2007 CFA Advisory Committee Final Report
May 26, 2006 CFA Advisory Committee Interim Report